Derivative levels are higher than they were at the height of the financial crisis, and they are concentrated among four big banks: JPMorgan Chase, Citigroup, Bank of America and Goldman Sachs.

In case anyone cares whether Dodd-Frank or the Volcker Rule defused those financial weapons of mass destruction known as derivatives, they can start worrying. Not only have the rules failed to curtail the risky FWMD, but they are larger than at the height of the financial crisis. And they are concentrated in four banks: JPMorgan Chase (ticker: JPM), Citigroup's Citibank (C), Bank of America (BAC),...